A recent study by the Intelligence Services Ministry into the potential economic relationship between Morocco and Israel revealed that these ties had been expanding even before US President Trump's announcement about Rabat's decision to normalize ties with Jerusalem, Israel Hayom learned over the weekend.
The study estimates that the peace deal will significantly boost the trade between the two countries, saying, "An official political agreement between Israel and Morocco will strengthen the economic relationship between the two."
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According to Intelligence Services Minister Eli Cohen, the move is "another important pillar in the Israeli-Arab relations, which will be followed by other countries in Africa and the Muslim world. Morocco is one of the most influential countries in Africa, and strengthening ties with it will significantly benefit both sides."
The sentiment was echoed by Moroccan Industry Minister Moulay Hafid Elalamy, who on Friday welcomed his country's decision to establish full diplomatic relations with Israel.
Elalamy declared that as early as Monday, "negotiations will begin with all Israeli investors who want to invest in the kingdom."
He referred mainly to investors of Moroccan descent, noting that "many of them had hoped to invest in the kingdom in the past, but were unable to do so. Then they looked for options in other countries, but now they are back."
According to the minister, Israeli investors are expected to look into opportunities in the fields of technology, pharmaceuticals, medicine, agriculture, and electronics.
At the same time, besides recognizing Morocco's' sovereignty in Western Sahara, Trump also announced that the US would open a consulate in the coastal city of Dakhla, which is located in the disputed region.
"The US consulate in Dakhla will focus on economic issues and will work to encourage US investments in the region," said Elalamy.
He added that following Trump's declaration, many investors who are already working with Rabat have expressed their desire to invest in Western Sahara as well. US investments in the region, Elalamy noted, will focus on developing renewable energy, technology, and transportation.
"I hope that countries will follow in the footsteps of the US administration, opening consulates in Western Sahara and investing in the south of the kingdom. The firm I head will work with all investors who are interested in investing in the area," the minister concluded.
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